EFTPOS

EFTPos stands for Electronic Funds Transfer Point of Sale.

It is the same as direct debit in that it allows the retailer to debit a consumer’s bank account using their debit card. Currently in Australia, retailers are using Chip and Pin and a lot have now added PayWave, but most of the machines at the cash counter will allow you to enter a pin number if you have it. If not, then you will have to brush up again on your signature….Yes, so places do still need it!